Welcome, Crypto enthusiasts!

Grayscale Investments is launching two new crypto trusts around the alt coins Sui & Bittensor.

In Today’s Blockstreet Journal:

• Grayscale Makes New Crypto Trusts

• ETH/SOL Ratio Hits ATH

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

MARKET NEWS
🏦 Grayscale Makes New Trusts 

Word On The Street: Grayscale Investments has announced the addition of two new crypto investment trusts, Bittensor and Sui, to its product suite.

The details:

• On August 7, Grayscale revealed that the Grayscale Bittensor Trust will invest in TAO, the native token of the Bittensor Protocol.

• The new Grayscale Sui Trust, on the other hand, will invest in Sui, the native token of the layer-1 smart contract blockchain Sui protocol.

• The new trusts are now available for subscription but are limited to eligible individuals and institutional accredited investors.

Why it matters: The new trusts are designed to offer exposure to crypto assets without requiring investors to directly acquire the tokens, similar to GBTC.

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👻 Buy Crypto With No KYC 

Word On The Street: Since its launch in 2015, Changelly has established itself as a premier instant cryptocurrency exchange, serving millions and facilitating quick crypto transactions for over 2.6 million users monthly. Partnerships with industry leaders like Binance and secure wallets such as Trezor and Exodus, along with dedicated 24/7 Support team, enhance service and ensure user satisfaction.

The details:

• Changelly Let’s Users Easy Swap Assets Across Chain With No KYC, Simple use an email & that’s it!

• Instant swap platform that allows you to exchange over 170 cryptocurrencies in 15 minutes.

• Changellly enables cryptocurrency purchases with your credit card, bank transfer, or Apple Pay. 160+ fiat currencies.

Trade crypto with no KYC 👻 

ALT COINS
😎 ETH/SOL Ratio Hits ATH 

Word On The Street: The SOL/ETH ratio has reached a new all-time high following a significant market shakeup that began on August 5.

The details:

• On August 6, the Solana (SOL) to Ether (ETH) ratio climbed to a new peak of 0.0595, according to TradingView data.

• This milestone follows a severe $500 billion crypto sell-off triggered by turmoil in traditional financial markets.

• Following the sell-off, Solana's price rebounded by 35%, rising from a local low of $110 on August 5 to $144 at the time of publication.

Why it matters: The crypto community has grown superstitious about traders being overly bullish on ETH, believing that excessive enthusiasm often precedes poor performance for the asset.

Market Rundown

Fear & Greed Index

The global crypto market cap is $1.98T, a 0.96% decrease over the last day.

The total crypto market volume over the last 24 hours is $94.59B, which makes a 25.99% decrease. The total volume in DeFi is currently $4.46B, 4.71% of the total crypto market 24-hour volume. The volume of all stable coins is now $88.68B, which is 93.75% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 56.27%, an increase of 0.56% over the day.

Global Market Metrics

As of today, the global cryptocurrency market is experiencing the following conditions:

- Total Market Cap: Approximately $1.98 trillion USD

- 24-hour Total Market Volume: Around $94.59 billion USD

- Bitcoin Dominance: 56.27%

- Ethereum Dominance: 14.62%

- DeFi Market Cap: Approximately $55.06 billion USD

- Stablecoin Market Cap: Approximately $158.74 billion USD

- DeFi 24-hour Volume: Around $4.46 billion USD

- Stablecoin 24-hour Volume: Approximately $88.68 billion USD

- Derivatives 24-hour Volume: Around $799.89 billion USD

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ ZK Pancakeswap Airdrop

PancakeSwap received just over 2.4 million ZK tokens. They have announced the launch of PancakeSwap Quest. Create your DeFo profile and complete the tasks to complete the quest. Of their allocation, 26.5% was used to reward veCAKE holders, while 27% was used to reward past users. The remaining 46.5% of their ZK allocation will be used to reward liquidity providers (36.5%) and traders (10%).

Step-by-Step Guide:

PancakeSwap Quest

1. Visit the PancakeSwap Quest page.

2. Connect your wallet and switch to BNB Chain.

3. Click on “Start The Quest.”

4. Set up your DeFi profile.

5. Complete the various social tasks mentioned on the quest page.

6. For more details about the quest, visit their official announcement.

Other News

DeFi protocol Nexera hacked for $1.5M via smart contract exploit. Nexera’s token contract has been paused and the team advises crypto investors to stop trading the NXRA token.

Bitcoin's Impending 'Death Cross' May Trap Bears as Bank of Japan Eases Rate Concerns. The ominous-sounding technical price pattern could again trap bears on the wrong side of the market as the Bank of Japan plays down chance of a near-term interest rate hike.

Bitstamp helps Stripe scale crypto purchases in the EU. Bitstamp entered a partnership to support Stripe’s crypto on-ramp solution in Europe a few months after Robinhood announced Bitstamp’s acquisition for $200 million.

Solana-Based Memecoins Surge as SOL Jumps 38% From Monday's Lows. The memecoins on the Solana network rose 30% in the past 24 hours, leading gains as a sector as optimism around SOL ETFs heats up among some.

🫡 Thanks For Reading

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